A blog on strategies, and applying strategic perspectives on business related issues, and on miscellaneous discussions about China

2007-02-22

HK's cyber dream

I guess the pictures below tell a lot about HK's cyber dream.

(Give way) Information "Crescent" - what a name! Tells a lot about how cyber the developer is.

无精良品! (Click picture to enlarge - can be read as "no-fine-good-stuff", or more maliciously, as "no-sperm-good-stuff", I have absolutely no idea how to make sense of this in Chinese. [Post-edit - I think it means no MSG]) - from a low end restaurant next to the cinema, where many guests ask for receipt (apparently for reimbursement -- not the high rolling business travellers, I guess -- but there aren't a lot of choice, as other restaurants are overpriced and look cold from outside)

The empty mall (1) - there are 4-5 stalls in the food court, but the Chinese stall closes at 630pm, and the pizza stall closes at 730pm. Have you known about anywhere else in HK that have such business hours? -- the lady at the cashier lament, "the business hasn't been that well...."

The empty mall (2) -- check out this "crowd" at the Cyber Mall

People were saying that HK's "cyberport" is a real estate development. I now want to put it in more specific terms, "purely residential development". i.e. no business, no cyber, not even some decent shops or restaurants, or hotel, or cyber-business.

The "mall" failed simply because there is no business in the area, and there are no shops to attract the external crowd to shop and eat there (like Taikoo Shing or PP). Many restaurants were closed, and without the flow of customers, the shops are all losing money. The fact that McDonald's in HK are the most profitable yet among the cheapest is purely a result of extremely high volume. Cyberport seems to think that there is no need for shop as everybody does "e-commerce".

To be sure, the developer would not care, as it has made enough money from selling the apartments!

As for the "business hotel" - Le Meridien - well, it caters for tourist groups, not business travellers. They have closed the executive floor and the lounge, so that guests who normally would be entitled to free drinks/snack are asked to go to the restaurants for "free breakfast and free drinks". They probably forget that the real reason for business travellers to go for the lounge is for the exclusivity, and the much higher waiter to guest ratio. They are usually reimbursed for their breakfast and drinks.

So much for HK's cyber dream. Welcome to Cyberport, a surreal experience in HK.

SB, did you visit Cyberport only at night? It looks like it from the images, you should see it during the day, it's actually fairly busy. While the Cyberport was a controversial project from the start (not because of technology but because of PCCW) today it has high occupancy in its offices.

I have yet to see an office area be "vibrant and busy" over an evening period.